Cannabis-derived products are creating a buzz in the beauty industry, making their way onto shelves and into shopping carts. The global beauty industry could boast a value of over US$800 billion by 2023, and the market
for legal cannabis could see exponential growth. With growing consumer interest in the wellness economy and in innovative and functional beauty products, it’s a highly exciting time to pursue opportunities in the cannabis cosmetics space.
Canopy Rivers approached the cannabis beauty sector looking for a strong brand that could transcend the regulatory environment—
a brand bolstered by a repeat entrepreneur with robust experience developing cosmetics that consumers love.
That’s why Canopy Rivers is excited to welcome High Beauty to its portfolio. The company has a competitive advantage
in the global beauty market through its consumer-friendly products, its geographic reach, and its expert team. High’s ability to be free of all psychoactive substances from the cannabis
plant have allowed its product line to overcome state and international boundaries, allowing it to be sold in multiple geographies, including Canada, the U.S. and Europe.
High meets “Clean at Sephora” standards – a “free of” designation that responds to consumers’ needs for products free of unwanted ingredients. Its skincare solutions are formulated without parabens, harsh preservatives, pesticides, and other synthetic compounds that consumers increasingly avoid. This is noteworthy, as some beauty categories see more than half of sales coming from paraben-free products, according to Nielsen data. High Beauty’s creations are vegan, cruelty-free, organic, and made with solar power — other features that are important for natural beauty consumers. High products offer a wealth of therapeutic
benefits: neutralizing inflammation, balancing hydration levels, and more.
The market for natural cosmetics continues expand, generating US$1.3 billion in annual sales in 2017, up from US$230 million in 2013. With the sales growth of natural cosmetics consistently outpacing conventional products, we believe that high is well-positioned to scale rapidly within the natural beauty segment.
Since its founding in 2017, High Beauty has closed several deals with Sephora, a leader in global prestige omni-channel retail. High products are currently made with hemp seed oil, allowing for easy domestic and international expansion. Already sold in
multiple Sephora retail stores in the U.S. and online, high could normalize cannabis cosmetics in the eyes of consumers as the brand extends its geographic reach.
This represents a great opportunity for Canopy Rivers, and in extension, Canopy Growth, to partner with the company on exciting product development initiatives. “Being supported by Canopy Rivers enables us to collaborate within the Canopy Rivers
ecosystem and to focus our energy and passion on the creation of a robust new product line using cannabis-derived extracts,” said Melissa Jochim, a highly successful formulator and Founder of High Beauty. "This partnership will allow us to scale
High Beauty’s business much “higher” in a short time frame.”
At the helm of high is a team of beauty industry veterans with decades of combined experience working with prominent brands. Notably, High Beauty founder Melissa Jochim holds 14 patents for her skincare formulations and was part of the founding team of
Juice Beauty, the formulator of goop skincare. Melissa’s 25 years of experience in the beauty field have given her an edge over the competition, having developed organic skincare products for companies including Blossom Organics, Alba Botanica,
Beauty Without Cruelty, and the Martial Vivot Grooming Line. “Led by Melissa Jochim, a repeat entrepreneur, preeminent formulator and brand developer coming from the natural, organic segment of the beauty industry, high has already captured
mindshare and awareness of consumers - it has all the makings to continue to be a prominent brand in the cannabis-infused beauty market,” says Narbé Alexandrian, President and CEO of Canopy Rivers.
Canopy Rivers is highly excited to partner with high, building off an experienced team and brand name to deliver expertly formulated cannabis cosmetics to consumers around the world.
Say high to revolutionary skincare, backed by Canopy Rivers.
This is not an offer to sell or a recommendation to trade in any securities. This information is provided as of the date hereof. This document contains data obtained from third parties that Canopy Rivers has not independently verified. This document also contains forward-looking information within the meaning of Canadian securities law, which is based on certain assumptions. While management believes these assumptions are reasonable based on information available as of the current date, they may prove to be incorrect. Many assumptions are based on factors outside of Canopy Rivers’ control and actual results may differ materially from current expectations. Forward-looking information involves risks, including, but not limited to, the risk factors set out in Canopy Rivers’ most recent Management’s Discussion and Analysis and Annual Information Form. You should not place undue reliance on forward-looking information. Except as required by applicable law, Canopy Rivers assumes no obligation to update or revise any forward-looking information to reflect new events or circumstances.
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